Jun 12, 2023 - Economy

SoftBank-backed pizza startup shuts down after raising $445 million

Illustration of a pizza box, with the chef having his back turned, and waving his hand.

Illustration: Brendan Lynch/Axios

Zume, a Silicon Valley-based robotic pizza-making and delivery startup, has shut down and is liquidating its assets.

Why it matters: The company had raised $445 million in venture capital funding, including $375 million from SoftBank in 2018 at a $2.25 billion valuation.

  • That's a whole lotta pepperoni. And cheese, which Zume apparently couldn't stop from sliding off its pies.
  • The company eventually would lay off over half its employees and attempt a very hard pivot from robotic pizza delivery to sustainable packaging.

Details: Other VC backers included Maveron, FJ Labs, AME Cloud Ventures and SignalFire.

  • Sherwood Partners is managing the liquidation process.
  • News of Zume's shutdown was first reported by The Information.
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